IQQ9.DE vs. AXQE.DE

Last updated Jun 5, 2026

IQQ9.DE (iShares BIC 50 UCITS ETF) and AXQE.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating) are both Emerging Markets Equities funds - IQQ9.DE tracks the FTSE BIC 50 Net of Tax Index while AXQE.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). Both are passively managed. Over the past year, IQQ9.DE returned -4.68% vs 67.78% for AXQE.DE. At a 0.45 correlation, their price movements are largely independent. IQQ9.DE charges 0.74%/yr vs 0.30%/yr for AXQE.DE.

Performance

IQQ9.DE vs. AXQE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares BIC 50 UCITS ETF (IQQ9.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IQQ9.DE achieves a -8.56% return, which is significantly lower than AXQE.DE's 37.94% return.

IQQ9.DE

• 1D: -0.34%
• 1M: -4.94%
• YTD: -8.56%
• 6M: -12.10%
• 1Y: -4.68%
• 3Y*: 6.20%
• 5Y*: -6.79%
• 10Y*: 2.77%

AXQE.DE

• 1D: -0.91%
• 1M: 3.62%
• YTD: 37.94%
• 6M: 41.71%
• 1Y: 67.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IQQ9.DE vs. AXQE.DE - Yearly Performance Comparison

	2026 (YTD)	2025
IQQ9.DE iShares BIC 50 UCITS ETF	-8.56%	2.37%
AXQE.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating	37.94%	28.56%

Correlation

The correlation between IQQ9.DE and AXQE.DE is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.45

Return for Risk

IQQ9.DE vs. AXQE.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IQQ9.DE

IQQ9.DE Risk / Return Rank: 7
IQQ9.DE Sharpe Ratio Rank: 7
IQQ9.DE Sortino Ratio Rank: 7
IQQ9.DE Omega Ratio Rank: 7
IQQ9.DE Calmar Ratio Rank: 7
IQQ9.DE Martin Ratio Rank: 7

AXQE.DE

AXQE.DE Risk / Return Rank: 71
AXQE.DE Sharpe Ratio Rank: 64
AXQE.DE Sortino Ratio Rank: 62
AXQE.DE Omega Ratio Rank: 85
AXQE.DE Calmar Ratio Rank: 71
AXQE.DE Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IQQ9.DE vs. AXQE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares BIC 50 UCITS ETF (IQQ9.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	IQQ9.DE	AXQE.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.20	2.10	-2.30
Sortino ratio: Return per unit of downside risk	-0.17	2.85	-3.01
Omega ratio: Gain probability vs. loss probability	0.98	1.51	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.20	3.48	-3.68
Martin ratio: Return relative to average drawdown	-0.45	14.04	-14.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IQQ9.DE vs. AXQE.DE - Sharpe Ratio Comparison

The current IQQ9.DE Sharpe Ratio is -0.20, which is lower than the AXQE.DE Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of IQQ9.DE and AXQE.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IQQ9.DE	AXQE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.20	2.10	-2.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	1.81	-1.80

Drawdowns

IQQ9.DE vs. AXQE.DE - Drawdown Comparison

The maximum IQQ9.DE drawdown since its inception was -65.58%, which is greater than AXQE.DE's maximum drawdown of -19.63%. Use the drawdown chart below to compare losses from any high point for IQQ9.DE and AXQE.DE.

Drawdown Indicators

	IQQ9.DE	AXQE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-65.58%	-19.63%	-45.95%
Max Drawdown (1Y) Largest decline over 1 year	-18.80%	-19.63%	+0.83%
Max Drawdown (3Y) Largest decline over 3 years	-22.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-52.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-58.63%	—	—
Current Drawdown Current decline from peak	-41.26%	-2.54%	-38.72%
Average Drawdown Average peak-to-trough decline	-27.71%	-2.70%	-25.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.51%	4.87%	+3.64%

Volatility

IQQ9.DE vs. AXQE.DE - Volatility Comparison

The current volatility for iShares BIC 50 UCITS ETF (IQQ9.DE) is 7.44%, while AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE) has a volatility of 9.35%. This indicates that IQQ9.DE experiences smaller price fluctuations and is considered to be less risky than AXQE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQQ9.DE	AXQE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.44%	9.35%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	13.61%	30.41%	-16.80%
Volatility (1Y) Calculated over the trailing 1-year period	18.82%	32.57%	-13.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.68%	30.53%	-1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.48%	30.53%	-5.05%

IQQ9.DE vs. AXQE.DE - Expense Ratio Comparison

IQQ9.DE has a 0.74% expense ratio, which is higher than AXQE.DE's 0.30% expense ratio.

Dividends

IQQ9.DE vs. AXQE.DE - Dividend Comparison

IQQ9.DE's dividend yield for the trailing twelve months is around 1.60%, while AXQE.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AXQE.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IQQ9.DE iShares BIC 50 UCITS ETF	1.60%	1.78%	2.75%	2.66%	3.70%	1.62%	1.51%	2.03%	3.03%	1.99%	1.83%	2.71%

Frequently Asked Questions

Can I hold both IQQ9.DE and AXQE.DE in my portfolio?

IQQ9.DE and AXQE.DE have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IQQ9.DE or AXQE.DE?

On fees, AXQE.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IQQ9.DE or AXQE.DE?

AXQE.DE is cheaper with a 0.30% expense ratio, compared with 0.74% for IQQ9.DE.

What is the main difference between IQQ9.DE and AXQE.DE?

IQQ9.DE tracks FTSE BIC 50 Net of Tax Index, while AXQE.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). They also come from different issuers: iShares and AXA IM. Their fees differ too: 0.74% for IQQ9.DE and 0.30% for AXQE.DE.